Boeing announces $95 billion in orders for 777X jet at Dubai Airshow

Boeing Co. said it has signed a record-breaking number of customer orders and commitments for the 777X, the aerospace giant's new twin-aisle commercial jet.

The deals were signed the day Boeing formally launched the program at the 2013 Dubai Airshow. At list price, the combined value of the agreements for 259 airplanes amounts in more than $95 billion, the company said.

The announcement comes as Boeing officials search for a home for 777X assembly. Last week, a machinists union in Washington state rejected a deal that would have ensured the work would stay in the Seattle area. Now the company is considering several different locales to build the plane, including Long Beach.

The 777X commitments consist of Lufthansa’s order for 34 jets; Etihad Airways’ order for 25; Qatar Airways’ order for 50; and Emirates with 150 airplanes.

The 777 is one of Boeing's bestselling models. Versions of the plane have been built in Washington since the early 1990s, and the 777X is seen as vital to the company's fortunes in the long-haul market for decades to come.

"The airplane will build on the market-leading 777 and will provide superior operating economics," Boeing Commercial Airplanes President and Chief Executive Ray Conner said in a statement. "The airplane will be 12% more fuel efficient than any competing airplane, necessary in today's competitive environment."

Boeing is aiming to find a production site for the 777X by early 2014. The company said the design of the 777X is underway and that suppliers on the program will be named in the coming months.

Boeing plans on beginning production in 2017, with first delivery targeted for 2020.

The Dubai Airshow, which ends Thursday, is one of the largest aerospace showcases and an event at which plane makers, Middle East airlines and military officials from around the world gather to sign blockbuster deals.

Orders for jets made by Boeing, Airbus and Bombardier have amounted to $193.9 billion, according to the show's website.